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Wall Street The market closed in the red on Wednesday (August 7). Unable to sustain gains from Tuesday’s session or earlier today, That provided relief to markets after Monday’s worrying losses and heavy selling.
Dow Jones Industrial Average It ended up down 0.60% at 38,763 points, while the Select S&P 500 (-0.77%) and the Technology Index Nasdaq (-1.05%) also moved in the negative direction to 5,199 and 16,195 units respectively.
(Via: Index shows that Latin America’s economy continues to grow and will not succumb to adversity).
Two days ago, the Dow Jones S&P 500 The Nasdaq experienced its worst trading day since September 2022, falling 2.6% and 3%, respectively, with the Nasdaq plunging another 3.4% on fears of a possible recession.
On the same day, Major Asian stock markets also broke out in chaos, with the Nikkei index – Japan’s benchmark index – and other markets fell 12.4% (its worst day since 1987).
After a positive opening on Wednesday, Large-cap tech stocks such as Nvidia (-5%) closed in the red; Meta (-1.05%) and Tesla (-4.4%) saw limited upside momentum on Tuesday.
(Via: Copper ‘hot’: Why demand for this metal is soaring).
The worst of the U.S. tech industry was taken out by a computer server provider on Wednesday. Supermicrocomputer, The company’s shares fell more than 20% after its latest quarterly results fell short of analysts’ expectations.
Vix Volatility Index, Called eWall Street’s ‘fear gauge’ After surging to 65 on Monday, the index rose to around 28, suggesting that investor concerns about a possible recession have receded.
However, Jamie Dimon, CEO of JPMorgan Chase He said in an online interview on Wednesday CNBC Who still believesSoft Landing“for The US economy is now between 35% and 40%. That makes a recession the most likely scenario, he argues.
New York Stock Exchange.
“I have always pointed out that geopolitics, housing, deficits, spending, quantitative tightening and elections will cause some market turbulenceDamon argued.
In addition, Quincy Krosby, chief global strategist at LPL Financial, said there could still be turbulent times ahead:Volatility is expected to continue in August and September“.
(Via: How Colombia and Latin America became the least desirable region for investors).
As for sectors, Wall Street stocks closed higher on Wednesday. Public Services (0.55%) and for Full of energy (0.46%) Mainly; the biggest loss is Non-essentials (-1.4%), raw material (-1.3%) and Technical (-1.22%).
Among the 30 largest Dow listed companies, apple (1.25%), Merchandise (1,21%) Yes Procter & Gamble (1.15%) and decreased significantly Amgen (-5%), Disney (-4,43%), Intel (-3,63%) year Home Depot (-3.23%).
In other markets, Texas Oil The 10-year Treasury yield was 3.955%; Gold prices fell to $2,423 an ounce; The euro was trading at 1.09218 U.S. dollars.
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